In this episode of The Vacation Rental Show: How We Grow, host Lynell Gordon is joined by Stuart Pack, the Chief Executive Officer at Bluewater Associates of Emerald Isle, Inc.. 

Stuart Pack is the CEO at Bluewater Associates of Emerald Isle, Inc., who aim to be the premier real estate and vacation rental company in the Southern Outer Banks by providing the best service to families who vacation, live, and invest here all while making a positive contribution to their community. The Bluewater Vacation Rentals firm includes the Vacation and Annual Property Management Division along with linens, housekeeping, maintenance, and their pool and spa departments which employ over 100 professionals. Before this, Stuart was Vice President of Rentals at Atlantic Realty of the Outer Banks, and VP / COO at Carolina Retreats. 

This episode is sponsored by Rental Guardian.

[02:55] Stuart recommends a guest-centric approach to property managers. After all, as Stuart says, “without the guests we don’t have anything”. This approach includes the booking process, pre-arrival emails, and their stay. Stuart adds that this even extends to post-stay reviews, suggesting that property managers respond to every piece of feedback and learn from them. By listening to guests and prioritizing feedback, companies can build a thriving vacation rental business. Stuart says that, while there can often be a debate between being owner-centric and guest-centric, his advice is to be both!

[12:28] Budget and KPIs are two of the most important areas for property managers to evaluate. Stuart recommends analyzing the various revenue streams, such as commissions, fees, and the potential for future earnings, in order to identify areas of strength and opportunities for improvement. Likewise, applying this approach to expenses will also highlight inefficiencies and positive takeaways. Stuart suggests bonus opportunities for staff, particular in relation to upselling services such as early check-in, which can generate additional revenue. 

[25:27] Stuart emphasizes communication and teamwork when it comes to working with homeowners. He advocates for regular maintenance plans and clear financial statements in order to avoid surprises. Accessibility is important for homeowners, which is why Stuart provides them with his personal cell phone number. As well as demonstrating trust, it also means Stuart can proactively resolve issues. He outlines a number of occasions where this transparency and honesty has improved relations with homeowners. 

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